Prospera Financial Services Inc Sells 5,129 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Posted by MarketBeat News on Aug 3rd, 2022

Prospera Financial Services Inc reduced its position in Lululemon Athletica Inc. (NASDAQ:LULU – Get Rating) by 85.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 845 shares of the apparel retailer’s stock after selling 5,129 shares during the quarter. Prospera Financial Services Inc’s holdings in Lululemon Athletica were worth $309,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in LULU. Benjamin Edwards Inc. raised its holdings in Lululemon Athletica by 192.0% in the fourth quarter. Benjamin Edwards Inc. now owns 73 shares of the apparel retailer’s stock worth $29,000 after purchasing an additional 48 shares in the last quarter. Lloyd Advisory Services LLC. bought a new position in Lululemon Athletica in the first quarter worth about $29,000. Cornerstone Advisory LLC bought a new position in Lululemon Athletica in the fourth quarter worth about $30,000. DeDora Capital Inc. bought a new position in Lululemon Athletica in the first quarter worth about $30,000. Finally, Destiny Wealth Partners LLC raised its holdings in Lululemon Athletica by 641.7% in the first quarter. Destiny Wealth Partners LLC now owns 89 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 77 shares in the last quarter. 85.48% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Kourtney Gibson acquired 200 shares of Lululemon Athletica stock in a transaction that occurred on Wednesday, June 15th. The stock was purchased at an average cost of $280.12 per share, with a total value of $56,024.00. Following the purchase, the director now owns 1,302 shares in the company, valued at $364,716.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.46% of the company’s stock.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU opened at $305.70 on Wednesday. Lululemon Athletica Inc. has a 1 year low of $251.51 and a 1 year high of $485.83. The firm has a market capitalization of $39.02 billion, a price-to-earnings ratio of 38.84, a price-to-earnings-growth ratio of 1.65 and a beta of 1.30. The business’s 50 day moving average price is $288.95 and its 200-day moving average price is $315.28.

Lululemon Athletica (NASDAQ:LULU – Get Rating) last announced its earnings results on Thursday, June 2nd. The apparel retailer reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.05. Lululemon Athletica had a return on equity of 39.23% and a net margin of 15.36%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the firm posted $1.16 EPS. The business’s revenue was up 31.6% on a year-over-year basis. On average, sell-side analysts expect that Lululemon Athletica Inc. will post 9.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Lululemon Athletica from $303.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, June 16th. Sanford C. Bernstein upgraded shares of Lululemon Athletica to a “hold” rating and set a $300.00 price objective on the stock in a report on Friday, June 24th. Citigroup cut their price objective on shares of Lululemon Athletica from $400.00 to $345.00 and set a “neutral” rating on the stock in a report on Friday, June 3rd. BTIG Research cut their price objective on shares of Lululemon Athletica from $420.00 to $402.00 and set a “buy” rating on the stock in a report on Thursday, July 21st. Finally, UBS Group cut their price objective on shares of Lululemon Athletica from $395.00 to $296.00 in a report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $402.61.

About Lululemon Athletica

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lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women and men. It operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits.